1.     APEC leaders release Da Nang Declaration to build an inclusive and sustainable APEC Community

Leaders of 21 APEC members released the Da Nang Declaration during their meeting in Da Nang in November. The Declaration reflects APEC’s determination to promote micro, small and medium enterprises, innovative startups, sustainable agricultural growth in response to climate change, and sustainable tourism development. APEC leaders reaffirm commitments to realizing Bogor Goals on trade and investment liberalization and the facilitation of cross-border e-commerce.

2.     CPTPP created to replace TPP

Ministers of 11 countries in the Trans-Pacific Partnership Agreement created the Comprehensive and Progressive Agreement for Trans Pacific Partnership to replace the original TPP. The deal, without US participation, revitalizes economic links in the Asia Pacific region. Ministers agreed to maintain core elements of the original agreement but postpone a number of clauses to ensure balance of interest of member countries and take into account their development levels. They pledged to work to address problems towards the official signing of the deal.

3.     China’s 19^th National Party Congress and “Chinese Dream”

The Communist Party of China convened its 19^th National Congress where Xi Jinping was re-elected as General Secretary. The Congress adopted the Xi Jinping Thought on socialism with Chinese characteristics for a new era and revised Party rules. The Xi Jinping Thought aims to sustain China in all aspects and develop it into a great modern socialist power by 2050.

4.     “America first” policy promoted

With President Donald Trump pushing ahead with new economic policies, the US economy flourished with GDP doubling against the figure during the Presidential election in 2016 and unemployment reducing to the lowest level in 17 years (4.1% in October). The US has reduced commitments with its allies, withdrawn from the Trans Pacific Partnership Agreement, the Paris Agreement, and UNESCO, recognized Jerusalem as Israel’s capital, and tightened control of migrants. The US showed a tougher stance on North Korea’s nuclear testing while embarking in tense relations with Russia, Syria, Cuba, and Venezuela. Its concept of “Indo-Pacific” mentioned in the new US National Security Strategy showed its vision of geo-politics in a new context.

5.     Korean peninsula continues a hot spot

This year North Korea performed further ballistic missile and nuclear tests despite international opposition. It launched 20 missiles including 3 inter-continental ballistic missiles. In November, Pyongyang tested a ballistic missile that it said could reach the US. The UN Security Council issued several sanctions against North Korea while the US re-listed North Korea as a terror sponsor country.

6.     ASEAN, China gain progress in East Sea issue

ASEAN and China approved a draft framework of the Code of Conduct of Parties in the East Sea after 4 years of negotiations. The document details the legal basis and conduct over the East Sea issue of regional countries. It will take time to complete the Code of Conduct, but the draft framework reflects the consensus of ASEAN and the two sides’ determination to activate the issue that has been delayed for a long period.

7.     Europe faces complicated political security issues

A number of elections were held in Europe in 2017, many of which influenced the future of the EU. Emmanuel Macron became French President and German Angela Merkel was re-elected for the fourth time. These events contributed to stability in Europe and strengthening unity within the EU amidst Brexit, public debt crisis, and problematic relations with the US. Despite receding popularism and extremism, post-Brexit separatism has increased. Catalonia in Spain claimed independence while Venice and Lombardy in Italy organized a referendum asking for more autonomy. European countries are taking tough measures to prevent separatism from threatening national unity and sovereignty.

8.     ISIS pushed out of Syria, Iraq

Backed by Russia the Syrian army defeated ISIS after 6 years liberating and returning control of Syria’s territory to its legal administration. Iraq declared the end of its 3-year war against ISIS. But terrorism and lone-wolf attacks have increased, particularly in Europe. Small ISIS-backed groups have spread around the world including in Southeast Asia.

9.     Climate change become more challenging

Huge typhoons have been ravaging countries around the world including the Caribbean and the US. There were flashfloods and landslides in Peru, Sierra Leone, Colombia, and Sri Lanka, and earthquake in Mexico and border areas between Iran and Iraq. A volcano in Indonesia erupted for the first time tin 50 years. Natural disasters have caused an estimated loss of more than 300 billion USD.

10.                         Paradise Papers leaked

After the Panama Papers were released last year, the world was shocked by the leak of more than 13 million files of the Paradise Papers. They revealed tax evasion by more than 120 politicians, tycoons, and multi-national companies such as Apple, Nike, and Uber.